Price target for MPNGF Meituan is $27. All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth! Traders are expecting the Chinese government would support the stock market like the FED did in the US.
Looking at the chart, we can see multiple support at 24.97 level and so far the price action has shown it is moving up steadily. I would be accumulating more at this stage, in tranches as US is slapped with inflation risks, rates hikes and the political uncertainty of Russia/Ukraine.
Read latest news here In China, it is not the company that rakes in the top revenue that call the shots! It is the CPC or Chinese government , haha! We have seen the fate of Alibaba with its shares still heading south and a few other companies will follow suit as well. So while the shares have fallen from a peak of 60 to current price (50% discount), I...
Read latest article here So, the Chinese government is out again bashing some of the local big Tech firms and Meituan Dianpin is not spared along with Alibaba, Tencent , etc. I am awaiting for the selling to ease and show the next round of bullish signals before adding more.
Questions that traders and investors constantly asked themselves - Now that I am in the trade and have made some profits, do I sell now and lock in the profits ? Questions that new traders and investors also asked themselves - Now price is so high, when is a good time to catch the low and get in or should I chase it higher ? Today, we see many HK/CHINA stocks...